Qatar Islamic Bank seeks approval to raise sukuk programme to $3bn

Qatar Islamic Bank (QIB)

Qatar Islamic Bank (QIB)

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, said on Monday it was seeking shareholder approval to raise the maximum size of its sukuk programme to $3 billion from the existing $1.5 billion.

The bank was also seeking an extension of approval for the remaining 3 billion riyal ($824 million) portion of a 5 billion riyal Tier 1 capital perpetual sukuk programme originally approved in February last year.

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